Struggling to find value in today’s property market!

H

HyperionDayz

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Is it just me or has the property market gone insane across the country(again)? Agents not bothering to return phone calls, multiple bids going over asking, little or no cash flow possible on the prices being paid.

It’s almost as though everyone is running to bricks and mortar in fear of inflation.

I’ve looked at Drogheda, Dundalk, Cork, Limerick, Cavan and Longford, it seems to be the same story nationwide.

Has anyone found a market of late that isn’t out of control?
 
Its absolutely insane. Agents acting as if they're god's gift to people. Similar haughty attitude they had in 2006.

I enquired about a property which had just been listed in Newbridge, I intimated that I'd be willing to offer the asking price as I had a tenant in mind. - Was laughed at and said they'd expect it would need to be 40k over the 220k asking price to be considered.

So we're back to prices being published being false and agents not even willing to entertain discussion at the price they uploaded that day.


Agents have short memories.
 
Posters here saying that prices are insane. What exactly are you saying is insane? What are the prices, the places the properties are in, type of house, etc? Land is not cheap, so sites cost plenty, solicitors, + engineers, planning costs, site development, materials have increased big time, tradesmen are scarce and deserve good money and plenty more too. I often wonder do some people understand what's involved in getting a building from a greenfield site to habitable dwelling.
 
Blame the government for shutting down the property market completely at Christmas, preventing property viewings and then creating panic among buyers. They could have restricted viewings but to stop them completely for months !! They went completely bonkers with all the covid stuff
 
I read an article to the effect there's a large amount of pandemic savings cash built up and that needs to be burnt off so to speak.
People didn't go on holidays, socialise, probably kept same car etc etc
 
NoRegretsCoyote said:
So why are prices racing ahead all over Europe?
Click to expand...
Because of governments shutting down the economy, printing money to maintain demand and Corralling that spending power into areas like property, yes it's a Europe wide phenomenon but the Irish government poured petrol on the flames by also closing down the property market and construction industry uniquely even though very low covid risk. Also we had the most severe lockdown so spending power did not goto services like pubs and restaurants.
 
We got our chance to build in all the right places gombeen politicians in all parties and none were to be found preventing building taken place while we had cheap Eastern European labor,
The real funny part is politicians who took advantage of the building boon and build-up there local area were looked down on,
Dubliners who thought the gombeens were down in Kerry now live the far side of Maynooth and travel in and out
to gombeen land every day,
 
kinnjohn said:
There is a big shift in the value cost of labor in the building trade, from now on if we want the houses built we have to pay,
no young person in their right mind would start working in the building trade, there is handier money to be made outside the Building Industry why bother,
Click to expand...
Au contraire, I think young people should be looking at trades in a serious way. Most tradesmen can name their price these days and I don't see that changing much in the next 10 years with the shortage we have in housing.
They'd be a lot better off with a trade than folding jerseys in sports shops for €10 per hour or spending 4 years in college doing a waste of time course (not all courses obviously).
 
I have lots of friends tradespeople in the building trade all up near retirement,
It is an Industry I never worked In but I take a close Intrest in,

the problem is the ones folding the jerseys in sports shops will not make it in the building trade on interest in hands-on work in the building trade,

The ones that will or could make it in the building trade are spending 4 years in college you will not find them doing waste of time courses they are a cut above that, and see themselves earning more hands-off possibly in the building trade or related Industries,
 
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My two cents on my experience of the Irish housing market (bought in 2018 and 2020).

1. The 'asking price' should be called the 'opening offer'. Different agents have different approaches, but in my experience all of them set the price below the target price agreed with the seller to drum up interest.
2. Agents just let the market demand dictate the bidding process, they don't entertain conditional offers i.e. "I'll pay x, if you take it off the market". They prefer to let everyone fight it out until only one remains.
 
joe sod said:
Because of governments shutting down the economy, printing money to maintain demand and Corralling that spending power into areas like property, yes it's a Europe wide phenomenon but the Irish government poured petrol on the flames by also closing down the property market and construction industry uniquely even though very low covid risk. Also we had the most severe lockdown so spending power did not goto services like pubs and restaurants.
Click to expand...
If it was worse here due to pouring petrol - most severe lockdown etc. etc. why is the link given by NoRegretsCoyote showing it isn't any worse here?

If there's anything actually exceptional here it's that we have one of the most severe lending guidelines - in reality that's keeping some control of prices - but with the side impact of driving up the price of renting.
 
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Also the government is in the palm of the professional landlords. The recent back tracking on the stamp duty is appalling. It’s not the market that I’d be fishing in but it’s a joke.
 
I find this property pricing to be a dishonest business practice, and uniquely Irish.
I am in the market currently, for a country pad. When I call an agent, I am asking 2 questions - if I don't get satisfactory replies, I hang up.

1) Is that the price?
2) Can I buy it?
 
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